Press Releases and Media Information for Kyero.com

Despite recent fears over a slump in the Spanish stock market and ongoing battles with the Spanish authorities regards 'land grab' legislation, the popular province of Alicante in eastern Spain has seen a 9% rise in property prices since January 2007 according to the largest English language Spanish property portal Kyero.com.

The average price of a property in Alicante province now stands at €250,000 (£170,583), equalling the Spanish national average. Average property prices have been rising steadily since the beginning of the year from €229,000 in Jan 07, to €230,000 in Feb 07, €234,000 in Mar 07, €240,000 in Apr 07 and €250,000 in May 07. Compared with the national average property price increase of 2% in the same period it is clear that demand is and will remain high in Alicante province.

Martin Dell, MD of Kyero.com, comments, '20% of all foreign property sales in Spain were located in Alicante in 2006 and I see no reason why this should reduce in 2007*. Spain is becoming a buyers market again and for many investors and second home buyers Alicante ticks all the right boxes.'

Alicante, in the southern part of the Valencian Community, bordered by the provinces of Murcia on the southwest, Albacete on the west, Valencia on the north and the Mediterranean Sea on the east, has long been a favorite with north European second home owners. Of the 1,732,389 inhabitants, at least 350,000, over 20% are foreign with the British, German, Belgian, Norwegian and French all calling it home.

And it's not hard to see why with 320 days of sunshine per year, over 150 miles of coastline, the rugged inland Alicante mountains, areas of natural interest such as the RAMSAR sites of saline wetlands and marshlands in Santa Pola and Torrevieja or the costal dunes in the Guardamar area, local wine production, an international airport welcoming over 8,893,749 passengers in 2006 with direct budget flights to the UK and Ireland and over 15 18-hole championship and celebrity endorsed golf courses within 2 hours drive of Alicante city.

The most popular properties sought in this province are 3 bedroom villas averaging at €288,400 in price. Despite the provinces' €250,000 average property price there are still areas offering buyers property bargains. Towns such as Algorfa, north west of Torrevieja offer average property prices of €201,600, 19% below province average; Benidorm on the coast north of Alicante town, at €218,500, 13% below province average or Guardamar del Segura on the coast north of Torrevieja at €195,000, 22% below.

1 bedroom properties in Alicante province average at €119,000
2 bedroom properties in Alicante province average at €180,000
3 bedroom properties in Alicante province average at €288,400
4 bedroom properties in Alicante province average at €394,750
5 bedroom properties in Alicante province average at €472,500

Source: Kyero.com Spanish House Price Index May '07